Africa Health Holdings, a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria.
The funding round, led by Asia Pacific Land and Natural World Limited, saw the participation of a number of investors including TRB Advisors, Breyer Capital, M3, Inc., Valiant Capital, Kepple Ventures and SUNU Capital.
Africa Health Holdings, based in West Africa, will use the new capital to expand its telemedicine service beyond Ghana, to countries like Nigeria and Kenya. This is in line with its plan to grow its portfolio beyond in-person visits and to allow electronic follow-ups through its mobile app, as more people across the continent get connected.
The startup’s MyCareMobile app is said to provide patients with access to a wide-range of services through teleconferencing, including consultations with their doctors. This is in addition to providing access to test results, and 24-hour emergency response.
“Africa Health Holdings will expand by bringing its telemedicine technology to multiple countries. Currently, the telemedicine service is only in Ghana, but soon, it will be expanding to Kenya and Nigeria,” said ther firm’s chairman and CEO, Sangu Delle.
Delle is a World Economic Forum Young Global Leader, and a Harvard and Oxford graduate. He is also the former CEO of Golden Palm Investments, an investment holding company with an interest in early-stage opportunities in Africa.
He founded Africa Health Holdings to “address Africa’s disproportionate share of the global disease burden.”
The TED fellow said increased demand in virtual consultations, which have grown owing to the COVID pandemic as people seek alternate ways of getting the attention of health professionals, has accelerated its plans to adopt telemedicine. Africa Health Holdings attends to about 200,000 patients annually, who use the telemedicine platform for referrals and treatment.
The firm now has an ambitious plan to grow its footprint within its current three markets and to explore opportunities within East, North and Southern Africa. This is in line with its plan to be the biggest healthcare provider in Africa.
“Always thinking about what is coming next and how to get quality healthcare to more people, Africa Health Holdings has begun investing in micro-tech-enabled clinics with virtual doctors' offices that are filled with diagnostic technologies, and nursing support, specifically for people from lower socioeconomic classes,” said Delle.
“Individuals are able to enter micro-tech-enabled clinics, meet with doctors virtually, consult with nurses, and receive treatment and/or referrals for additional care at a reduced cost,” he said.
Africa Health Holdings has three brands in three different countries: the Meridian Health Group in Kenya, Rabito Clinic in Ghana and Nigeria’s Care Point Hospitals, all operating 40 facilities.
The Meridian Health Group owns 16 hospitals in Kenya, including a drug and alcohol recovery center. Rabito Clinic Limited in Ghana has 21 dermatology and general medicine facilities, while Care Point Hospitals Limited has two hospitals and a clinic in Nigeria. Africa Health Holdings also operates pharmacies and laboratories across the three countries.